Imputed Income on (US) paycheck stub

[AC]

On 2015-03-30 21:59, Michael Wagner wrote:
> My wife's pay check includes a line called "Imputed Income" - I think
> it's a tax artifice (the money doesn't show up under deductions or get
> deposited anywhere, near as I can tell. I think it's way of taxing some
> fringe benefits.
> 
> It looks like math of the paycheck stub is
> 
>     Gross Pay = Deductions + Deposit to Bank + Imputed Income
> 
> How do I track "Imputed Income"? Is it an expense?
> 
> Is it income account?

The best way to describe it is virtual income.  She receives a benefit
whose cash value is deemed to be the imputed income and then has to be
taxed on that income even though no money reaches your accounts.

I had this a few years ago when I got a new job and my moving expenses
were paid by my new employer.  I was using MS Money at the time but for
either Money or GnuCash I don't use the software for any purpose other
than a running ledger to track income and expenses and make sure what I
think I should have equals what the bank and credit cards thinks I
should have (in other words I don't use the software to do my taxes or
file reports with an accountant).

I just looked back at that transaction and I added the imputed income as
an extra income (in my case to an income account for salary) and then
removed it as a moving expense to one of the miscellaneous expense
accounts as if I had been given exactly the amount of money needed to
pay the movers myself.  Then the rest of the split lines account for all
the other tax items (Medicare, Social Security, withholding, etc.)